As
per a new report by Transparency Market Research (TMR), the Global
fish oil market is anticipated to observe remarkable growth over the
next few years, thanks to the significantly increasing competition
between the leading market participants. With the continual entry of
new players, the competition within this market is projected to
intensify further, creating new growth opportunities for this market
in the years to come. Omega Protein Corp., Copeinca-ASA, EPAX AS,
Croda Inc., and Colpex are some of the key players in this market,
reviewed in this research report.
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According
to the report by TMR, the market for fish oil in Global offered an
opportunity worth in US$1.1 bn in 2011. Expanding at a CAGR of 5.50%
between 2012 and 2028, the market is projected to reach US$1.7 bn by
the end of the forecast period. The demand for fish oil is
significantly high in aquaculture. In 2011, this segment acquired
more than 75% of the overall market and is anticipated to remain on
the top over the forthcoming years. The direct human consumption
segment occupied the second position in the global market and is
projected to remain seated here in the near future, states the
research report.
U.S.
to Lead Global Fish Oil Market
In
this research report, the geographical presence of the global market
for fish oil has also been studied thoroughly. North America, Asia
Pacific, Europe, and Rest of the World have been considered as the
key geographical segments of the worldwide fish
oil market in this study. Among these, Europe occupied the
leading position in 2011 and is expected to continue on the top over
the next few years, thanks to the fish farming being the traditional
occupation in this region, reports the market study.
Rise
in Automotive Industry to Support Growth of Global Fish Oil Market
The
extensive usage of fish oil in aquaculture and direct human
consumption is the key factor that has been supporting the growth of
the market for fish oil across the world,” states a research
analyst at TMR. However, the significant rise in fish oil prices may
hamper the growth of this market in the near future. The static
production in sharp contrast to the rising demand for fish oil may
also restrict the market from rising steadily in the years to come.
Nonetheless, the advancements in aquaculture in Asia Pacific is
anticipated to neutralize the impacts of these restraints over the
forthcoming years, notes the research study.
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